Fast-Growing, State-Run Property Insurers Pose Risk for Taxpayers

Monday, June 11th, 2007 Property

Exponential growth of state-run property insurers of last resort ultimately may shift much of the long-term risk of hurricane-related losses to policyholders and taxpayers, even those who live nowhere near the coast, reports the private insurance industry’s Insurance Information Institute. By year-end 2006, total exposure to loss in state-run property insurers is estimated to have surged to more than $600 billion, compared with $54.7 billion in 1990.

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http://www.insurancejournal.com/news/national/2007/06/08/80671.htm

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